Premier Office commercial real estate news, analysis, trends and information including occupancy, rent, design, office space use and construction deals and players.
The Navy Broadway Complex, which is currently the home of the Navy's regional headquarters, will make way for a new mixed-use development. Manchester Pacific Gateway will feature six buildings totaling 3 million square feet within eight-city blocks.
Tech and co-working dominated the Puget Sound office market in the first and third demand positions, and a second source of demand driver is coming from finance, insurance and real estate companies.
President Trump may sign an executive order giving opportunity zone investments additional preferences in federal loan and grant funding, says Christopher Coes, vice president of land use and development, Smart Growth America.
The greater Redmond market has been driven by the explosive growth of Facebook's virtual reality division, Oculus, which now occupies more than 885,000 square feet, and investors are taking notice.
A joint venture of Turnbridge Equities, a New York City-based, privately held full-service real estate investment and development firm, and Harbor Group International, purchased the 540,103-square-foot property from PNY Technologies.
Real estate investors use 1031s or like-kind exchange strategies to maintain strong portfolios, apply more capital towards current real estate opportunities and maximize tax savings.